| 000 -LEADER |
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| fixed length control field |
02282nam a22001577a 4500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
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| fixed length control field |
220427b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME |
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| Personal name |
Chakraborti, R. and Roberts, G. |
| 245 ## - TITLE STATEMENT |
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| Title |
Learning to hoard: The effects of preexisting and surprise price-gouging regulation during the Covid-19 pandemic |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) |
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| Place of publication, distribution, etc |
Journal of Consumer Policy |
| 300 ## - PHYSICAL DESCRIPTION |
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| Extent |
44(4), Dec, 2021: p.507-529 |
| 520 ## - SUMMARY, ETC. |
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| Summary, etc |
Theory suggests anticipation of shortages stemming from price regulation can motivate households to stock up more and thereby aggravate the regulation-induced shortage. We test this theory on online shopping searches for two typically store-bought staples: hand sanitizer and toilet paper. Combining (i) interstate variation in type of price-gouging regulation—preexisting versus surprise versus none, (ii) their temporally staggered implementation, and (iii) the demand surges for hand sanitizer and toilet paper during the COVID-19 pandemic facilitates identifying the impacts of different price-gouging regulation on consumer searches. Our results are consistent with price-gouging regulation–driven anticipatory hoarding. Difference-in-differences estimates reveal that states with preexisting-regulation experience the largest increases in post-implementation search proportions for both products. Accounting for potential endogeneity of implementation using a nearest-neighbor matching strategy reveals states that make surprise announcements of new regulation during the pandemic also experience larger increases in post-activation hand sanitizer search proportions than states without any such policy, but smaller increases than what preexisting-law states experience. These results corroborate the theoretical predictions about consequences of regulation-induced anticipation of shortages and inform the current policy debate surrounding impacts of price-gouging laws. Fundamentally, our results indicate behavioural responses to policy evolve as experience reveals the effects of the policy, and this evolution might influence the welfare consequences of the policy. – Reproduced |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
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| Topical term or geographic name as entry element |
COVID-19, Price gouging, Shortages, Price controls, Panic buying |
| 9 (RLIN) |
30875 |
| 773 ## - HOST ITEM ENTRY |
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| Main entry heading |
Journal of Consumer Policy |
| 906 ## - LOCAL DATA ELEMENT F, LDF (RLIN) |
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| Subject DIP |
PRICE REGULATION |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) |
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| Item type |
Articles |
